Annual report 2025
Annual report 2025
Annual report 2024
Annual report 2023
German
Company
Company
Overview
Key figures Lufthansa Group
Key figures business segments
The Executive Board
Letter from the Executive Board
Report of the Supervisory Board
Lufthansa share
Combined management report
Combined management report
Overview
Principles of the Group
Principles of the Group
Business activities and Group structure
Strategies and goals
Strategies and goals
Group strategy
Financial strategy and value-based management
Fleet and route network
Fleet and route network
Fleet
Route network
Employees
Research and development
Legal and regulatory factors
Economic report
Economic report
Macroeconomic situation
Sector developments
Course of business
Course of business
Overview of business developments and comparison with original forecast
Significant events
Events after the reporting period
Financial performance
Financial performance
Earnings position
Financial position
Net assets
Overall statement by the Executive Board on the economic position
Business segments
Business segments
Passenger Airlines business segment
Passenger Airlines business segment
Lufthansa Airlines
SWISS
Austrian Airlines
Brussels Airlines
Eurowings
Logistics business segment
MRO business segment
Additional Businesses and Group Functions
Opportunities and risk report
Opportunities and risk report
Opportunities and risk management
Opportunities at an individual level
Risks at an individual level
Overall statement on opportunities and risks
Description of the internal control system
Description of the accounting-related internal control and risk management system in accordance with Section 289 Paragraph 4 and Section 315 Paragraph 4 HGB
Forecast
Forecast
Macroeconomic outlook
Sector outlook
Changes in business and organisation
Changes to reporting
Outlook for the Lufthansa Group
Overall statement by the Executive Board on the development of the Lufthansa Group
Corporate governance
Corporate governance
Supervisory Board and Executive Board
Mandates
Disclosures in accordance with Section 289a Paragraph 1 HGB and Section 315a Paragraph 1 HGB
Declaration on corporate governance in accordance with Section 289f HGB and Section 315d HGB
Combined non-financial declaration
Combined non-financial declaration
About this non-financial declaration
ESRS2 – General disclosures
ESRS2 – General disclosures
Basis for preparing this statement
Corporate governance
Strategy
Impact, risk and opportunity management
E1 – Climate change
E1 – Climate change
Overview of material impacts, risks and opportunities
Strategies and governance
Impact, risk and opportunity management
Metrics and targets
E2 – Pollution
E2 – Pollution
Overview of material impacts, risks and opportunities
Impact, risk and opportunity management
Metrics and targets
E5 – Resource use and circular economy
E5 – Resource use and circular economy
Overview of material impacts, risks and opportunities
Impact, risk and opportunity management
Metrics and targets
Applicability and disclosures in accordance with the EU Taxonomy Regulation (EU) 2020/852
S1 – Own workforce
S1 – Own workforce
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
S2 – Workers in the value chain
S2 – Workers in the value chain
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
S4 – Consumers and end-users
S4 – Consumers and end-users
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
G1 – Business conduct
G1 – Business conduct
Overview of material impacts, risks and opportunities
Corporate governance
Impact, risk and opportunity management
Metrics and targets
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Earnings position
Earnings position
Revenue and income
Expenses
Earnings performance
Financial position
Financial position
Cash flow
Net assets
Net assets
Assets
Liabilities
Other disclosures
Other disclosures
Risk report
Supplementary report
Forecast
Consolidated financial statements
Consolidated financial statements
Overview
Consolidated income statement
Consolidated statement of comprehensive income
Consolidated statement of financial position
Consolidated statement of changes in shareholders’ equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Notes to the consolidated financial statements
General disclosures
Notes to the consolidated income statement
Notes to the consolidated statement of financial position
Notes to the consolidated statement of financial position
Assets
Shareholders’ equity and liabilities
Notes to the segment reporting
Notes to the consolidated cash flow statement
Other disclosures
Composition of the Group
Major subsidiaries, joint ventures and associated companies
Miscellaneous equity investments
Declaration by the legal representatives
Independent auditor’s report
Remuneration report
Remuneration report
Overview
Review of remuneration year 2025
Remuneration of Executive Board members
Remuneration of Supervisory Board members
Disclosures on relative changes in Executive Board and Supervisory Board remuneration, remuneration of the rest of the workforce and Company profitability
Further Information
Further Information
Overview
Sustainable Development Goals (SDG)
Task Force on Climate-related Financial Disclosures (TCFD) Index
Assurance report of the independent German public auditor on a limited assurance engagement in relation to the group sustainability statement
Independent Auditor’s Report on the audit of the remuneration report pursuant to Sec. 162 (3) AktG
Ten-year overview
Glossary
Credits, Contact, Financial calendar
Credits, Contact, Financial calendar
Credits
Contact
Financial calendar 2026
Annual report 2025
Annual report 2025
Annual report 2024
Annual report 2023
German
Company
Company
Overview
Company
Back
Key figures Lufthansa Group
Key figures business segments
The Executive Board
Letter from the Executive Board
Report of the Supervisory Board
Lufthansa share
Combined management report
Combined management report
Overview
Combined management report
Back
Principles of the Group
Principles of the Group
Combined management report
Business activities and Group structure
Strategies and goals
Strategies and goals
Principles of the Group
Group strategy
Financial strategy and value-based management
Fleet and route network
Fleet and route network
Principles of the Group
Fleet
Route network
Employees
Research and development
Legal and regulatory factors
Economic report
Economic report
Combined management report
Macroeconomic situation
Sector developments
Course of business
Course of business
Economic report
Overview of business developments and comparison with original forecast
Significant events
Events after the reporting period
Financial performance
Financial performance
Economic report
Earnings position
Financial position
Net assets
Overall statement by the Executive Board on the economic position
Business segments
Business segments
Combined management report
Passenger Airlines business segment
Passenger Airlines business segment
Business segments
Lufthansa Airlines
SWISS
Austrian Airlines
Brussels Airlines
Eurowings
Logistics business segment
MRO business segment
Additional Businesses and Group Functions
Opportunities and risk report
Opportunities and risk report
Combined management report
Opportunities and risk management
Opportunities at an individual level
Risks at an individual level
Overall statement on opportunities and risks
Description of the internal control system
Description of the accounting-related internal control and risk management system in accordance with Section 289 Paragraph 4 and Section 315 Paragraph 4 HGB
Forecast
Forecast
Combined management report
Macroeconomic outlook
Sector outlook
Changes in business and organisation
Changes to reporting
Outlook for the Lufthansa Group
Overall statement by the Executive Board on the development of the Lufthansa Group
Corporate governance
Corporate governance
Combined management report
Supervisory Board and Executive Board
Mandates
Disclosures in accordance with Section 289a Paragraph 1 HGB and Section 315a Paragraph 1 HGB
Declaration on corporate governance in accordance with Section 289f HGB and Section 315d HGB
Combined non-financial declaration
Combined non-financial declaration
Combined management report
About this non-financial declaration
ESRS2 – General disclosures
ESRS2 – General disclosures
Combined non-financial declaration
Basis for preparing this statement
Corporate governance
Strategy
Impact, risk and opportunity management
E1 – Climate change
E1 – Climate change
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Strategies and governance
Impact, risk and opportunity management
Metrics and targets
E2 – Pollution
E2 – Pollution
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Impact, risk and opportunity management
Metrics and targets
E5 – Resource use and circular economy
E5 – Resource use and circular economy
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Impact, risk and opportunity management
Metrics and targets
Applicability and disclosures in accordance with the EU Taxonomy Regulation (EU) 2020/852
S1 – Own workforce
S1 – Own workforce
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
S2 – Workers in the value chain
S2 – Workers in the value chain
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
S4 – Consumers and end-users
S4 – Consumers and end-users
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Strategy
Impact, risk and opportunity management
Metrics and targets
G1 – Business conduct
G1 – Business conduct
Combined non-financial declaration
Overview of material impacts, risks and opportunities
Corporate governance
Impact, risk and opportunity management
Metrics and targets
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Combined management report
Earnings position
Earnings position
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Revenue and income
Expenses
Earnings performance
Financial position
Financial position
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Cash flow
Net assets
Net assets
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Assets
Liabilities
Other disclosures
Other disclosures
Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)
Risk report
Supplementary report
Forecast
Consolidated financial statements
Consolidated financial statements
Overview
Consolidated financial statements
Back
Consolidated income statement
Consolidated statement of comprehensive income
Consolidated statement of financial position
Consolidated statement of changes in shareholders’ equity
Consolidated cash flow statement
Notes to the consolidated financial statements
Notes to the consolidated financial statements
Consolidated financial statements
General disclosures
Notes to the consolidated income statement
Notes to the consolidated statement of financial position
Notes to the consolidated statement of financial position
Notes to the consolidated financial statements
Assets
Shareholders’ equity and liabilities
Notes to the segment reporting
Notes to the consolidated cash flow statement
Other disclosures
Composition of the Group
Major subsidiaries, joint ventures and associated companies
Miscellaneous equity investments
Declaration by the legal representatives
Independent auditor’s report
Remuneration report
Remuneration report
Overview
Remuneration report
Back
Review of remuneration year 2025
Remuneration of Executive Board members
Remuneration of Supervisory Board members
Disclosures on relative changes in Executive Board and Supervisory Board remuneration, remuneration of the rest of the workforce and Company profitability
Further Information
Further Information
Overview
Further Information
Back
Sustainable Development Goals (SDG)
Task Force on Climate-related Financial Disclosures (TCFD) Index
Assurance report of the independent German public auditor on a limited assurance engagement in relation to the group sustainability statement
Independent Auditor’s Report on the audit of the remuneration report pursuant to Sec. 162 (3) AktG
Ten-year overview
Glossary
Credits, Contact, Financial calendar
Credits, Contact, Financial calendar
Further Information
Credits
Contact
Financial calendar 2026
Further Information
Credits, Contact, Financial calendar
Credits, Contact, Financial calendar
Credits
Read more
Contact
Read more
Financial calendar 2026
Read more
Back
Glossary
Annual report 2025
Annual report 2025
Annual report 2024
Annual report 2023
German
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